NEW DIRECTIONS IN VENEZUELA-CHINA PARTNERSHIP

Abstract

China, similarly to the Brazil, India, Russia and South Africa (BRICS), members of Association of Southwest Asian Nations (Asean) and Turkey, is a clear example of soft balancing policy. Venezuela, by contrast is a revisionist power that has supported the presence of China in Latin America and the Caribbean. Venezuela’s investment and foreign trade are characterized by the presence of petroleum, petroleum products and natural gas. More than 95% of Venezuelan exportable offer is based such commodities. Therefore, the discussion about the cutback of industry and services of the Latin America and the Caribbean economies, given the magnitude of primary exports and imports of Chinese goods, is not a major problem for Venezuela since it does not have an industrial plant that could compete with imports of goods and services from the Asian power.